This week in insurance: Taiwan backs digital insurers, India eyes parametric cover, Tokio Marine teams with Salesforce

It also saw significant catastrophe losses and HNW and investment-linked product launches.

Asia-Pacific's insurance sector from 4 to 8 August  saw regulatory changes to support digital insurers, growing interest in parametric products, major AI and data partnerships, and new automotive protection offerings in Asia.

Taiwan’s Financial Supervisory Commission (FSC) has proposed amendments to key insurance regulations to support the launch of digital insurers and drive InsurTech growth.

Announced on 11 April, the changes expand the scope and business models for what were previously called “internet-only insurers,” now rebranded as “digital insurers.”

As India faces more frequent floods, heatwaves, and solar shortfalls, parametric insurance is starting to gain traction in sectors like agriculture, renewables, and informal labour, according to Policybazaar for Business. 

Globally, the parametric market was worth $15.9b in 2023 and is projected to reach $34.6b by 2032.

Separately, Asia-Pacific and Africa regions saw combined losses of $29b in the first half of 2025, with only about $5b of that were insured—highlighting the persistent protection gap in emerging markets, according to Munich Re.

The Hong Kong Federation of Insurers (HKFI) and the Centre for Ageing and Healthcare Management Research at PolyU CPCE signed an agreement to launch a research project to identify structural drivers of rising healthcare costs based on real-world claims data.

In corporate news, Tokio Marine Holdings and Tokio Marine & Nichido Fire has partnered with Salesforce Japan to accelerate the insurer’s use of artificial intelligence (AI) and data in customer-facing operations. 

The agreement will extend Tokio Marine’s existing use of Salesforce products — including its agency management platform TNEXT and contact-center systems — by integrating Salesforce’s autonomous AI agent, Agentforce, into contact centres, agencies and branch offices.

FWD Hong Kong as unveiled an indexed universal life (IUL) insurance product developed in collaboration with UBS Global Markets as an exclusive enhanced index solution provider, for eligible professional investors.

Also, FWD Group has completed the buildout of its high-net-worth (HNW) insurance hub in Asia under the FWD Private brand, including the full deployment of its new FWD Private Lounge in Hong Kong.

Meanwhile, QBE Automotive Protection has launched SMART Protect in the Philippines, offering coverage for minor car damage like dents and scratches. 

The product, available through Paramount Life and General Insurance Corporation, allows vehicle owners to get small cosmetic repairs done without needing an accident claim or paying a deductible.